_____ 11. A theft loss of $10,000 cash by an individual results in a $10,000 casualty loss deduction.

Name: _____ 11. A theft loss of $10,000 cash by an individual results in a $10,000 casualty loss deduction.
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A theft loss is considered a casualty loss, but it is subject to limitations and may not result in a full deduction. The loss must exceed $100 and 10% of the individual's adjusted gross income to be deductible.

_____ 11 a Theft Loss of $10,000 Cash by an Individual